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Bitcoin (BTCUSD) continues its downward trajectory, testing the $56,160 support level and striving to confirm a break below it. Successfully moving past this level would reinforce the bearish outlook and pave the way for further declines, with potential targets extending to $51,990.
Maintaining prices below $56,160 is crucial for sustaining the expected bearish trend. If Bitcoin trades above this level, it might test the minor resistance around $57,545 before resuming its downward movement.
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The anticipated trading range for today is between $54,500 and $58,300.
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Trend Forecast: Bearish
